Guernsey insurance body signs up to net zero

The Guernsey International Insurance Association (GIIA) has committed to net zero, signing up to the  SME Cimate Hub initiative. The pledge commits signatories to halve carbon emissions by 2030 and achieve net zero before 2050 while reporting progress annually.

The pledge continues: “In doing so, we are proud to be recognised by the United Nations Race to Zero campaign, and join governments, businesses, cities, regions, and universities around the world that share the same mission.”

The SME Climate Commitment is one of the three pillars of the SME Climate Hub. “[It] provides SMEs, no matter their sector or geography, with the opportunity to make an internationally recognised climate commitment which is aligned with the latest climate science. SMEs that make the SME Climate Commitment will be recognised by the United Nations Race to Zero campaign and join a wide range of governments, businesses, cities, regions, and universities around the world that are committed to achieving net zero carbon emissions,” the hub explains.

It is an initiative of the International Chamber of Commerce, the Exponential Roadmap Initiative, the We Mean Business coalition and the United Nations Race to Zero campaign.

GIIA Chairman Mark Elliott said: “GIIA wanted to make this pledge to make a statement for their membership and encourage others to sign up.”

In May, the association released an ESG framework to help organisations manage ESG opportunities and risks and deliver positive ESG impact. In September, it awarded its first ESG accreditation for an insurance entity to Dunant Re IC Limited, an incorporated cell of Replexus ICC and managed by Aon Insurance Managers.

Strategic Risk Solutions and Robus have also signed the pledge.

“Strategic Risk Solutions can play an important role in addressing the greatest emergency facing society today, not just through their own actions but by supporting their clients in signing up for the GIIA ESG Kitemark,” said SRS managing director Peter Child.

Robus Guernsey general manager Jamie Polson said: “We at Robus are taking our responsibility to limit warming to 1.5 degrees seriously and had no hesitation in signing up to the net-zero pledge, which is a fantastic and critical initiative. In reality, our own targets will be more ambitious yet, and we are excited to see many of our clients and prospects taking similar steps.”